re: Binance hack
It’s amazing how many people I’ve seen respond to the idea of a rollback with assertions of ‘miner morality’, and ‘incentives beyond money’.

That’s not how this works, if you’re relying on goodwill and ideology to keep things secure, you’re gonna have a bad time.

But if you’d really like to depend on morality, you’d have better luck with EOS or some crap like that.

LND updated without any major issues. Hooray for channel backups! Recklessness decreasing...

twitter.com/lex_node/status/11

Interesting... not because I think the regulations of some jurisdiction have bearing on Bitcoin, but because it highlights the wild-west-ness of this space.
Permissionless innovation means that financial regulations are an inconsequential barrier for a motivated user. It seems that education may be more effective that regulation in this regard. Though I suppose bad actors will still exist even in a highly-educated future.

@harding @liberliver @Sosthene @cryptocoderbob
Appreciate the feedback!
I'm thinking of doing some investigations into how different wallets deal with fee rates, so I figured while I'm at it I could keep track of some other basic stuff as well.
Even though mobile wallets are probably far from the wallet-of-choice for people that hang around here, they do seem to be very popular with newer users and the like. So I'm interested to see how each wallet behaves wrt fees-- a hot topic these days.

What are the biggest things you look for in a bitcoin wallet for mobile? Security/privacy? Ease-of-use? Control over fees? Something else?
What sort of things would be an immediate turn-off?

Spent some time in Europe last month... I'm amazed at how much time the GDPR-cookie-compliance messages took to click through. Every website I loaded required a couple of seconds to load/click through a popup that warns you that the site uses cookies.

On one hand, I like that the goal is giving people more awareness/ownership over their info, but I feel like I now understand the complaints I've seen about it online a bit better. Maintaining a good UX isn't easy, I guess.

I thought bitcoinhackers might like this: a display of lock mechanisms from the 1500’s, seen in the Rijksmuseum in the Netherlands. There are some pretty wild designs in there.

How to guard valued possessions is a timeless question. Some things change, others stay the same!

A funny Bitcoin.SE question:
Can the fees in a coinbase (tx) be used to launder Bitcoins?

"Just asking for a friend", right OP? :p

bitcoin.stackexchange.com/ques

The Bitfi wallet is being heavily promoted in my Twitter feed, lots of sponsored posts recently.
They're basically promoting a hardware brainwallet, I'm surprised I haven't seen more outrage at this yet.

"This committee essentially has nothing to do with bitcoin at all. It is another "blockchain not bitcoin" effort which can only do damage to Bitcoin. It is initiated by people who are unable to accept the concept that nobody is in charge and nobody decides the rules. If they were interested in bitcoin they would be contributing on github and the mailing lists."

+1

bitcoin.stackexchange.com/ques

This is neat, pi showing up in a physical system. The explanation video is great, 3Blue1Brown is awesome.

youtube.com/watch?v=HEfHFsfGXj

Random musing: perhaps some of the 'messenger app coins' will help the adoption of Bitcoin, as users are presented with an easy on-ramp through a service they already use. After gaining familiarity with using a 'cryptocurrency', making the switch to Bitcoin will be easier.

This article is fairly idiotic, but it prompted my thoughts:

nytimes.com/2019/02/28/technol

Also, I'm kinda surprised to hear Signal is making its own coin? For no real reason, I thought they'd know better? Hm

My LND node routed a payment today, for the first time in the 9+ months I've had it online, netting me 1 sat in fees.

The routing pushed one channel's balance almost entirely to one side, and then that channel was closed out... hmm. Opening a channel costs more than 1 sat in fees... kind of a funny situation there.

Ah well. For some reason routing a payment feels exciting. I'll call that worth the few cents opening a new channel will cost.

Arguing about the block size in relation to fees seems to be endlessly in vogue.

If fees are the issue, why is there no discussion about creating wallets that can coordinate to slowly raise fees, instead of just 'doubling the fee rate then hitting broadcast'?

Am I missing something obvious here?

Is there any interesting work being done on optimizing the Bitcoin fee market? Has anyone explored the idea of allowing wallets to talk/coordinate on the issue?

Of course that doesn't allow an *absolute* 'solution', but it certainly couldn't hurt efficiency. The end of 2017 was a brilliant display of bad fee estimation algorithms, to me this seems like an under-talked about part of the tech. I find that a little surprising, considering how core it is to the user experience.

Came across Veem today, a service which is kinda interesting. At first I rolled my eyes at their mentions of 'using blockchain technology' to send payments, but upon further investigation it turns out they just partner with various international Bitcoin brokers to buy/sell in and out of BTC, in order to cross borders with less intermediary banks involved. Users still deal only in fiat, but its funny to see that BTC allows their backend to be more efficient in some ways.

veem.com

Show more
Bitcoin Mastodon

A mastodon instance for Bitcoin Maximalists.
No scams, no shitcoin, no impersonation, no begging, and no illegal content.
Keep it civil and we should all survive :)